California § 31169. 31169. (Added by Stats. 1968, Ch. 923.)

California Statutes

§ 31169. — 31169. (Added by Stats. 1968, Ch. 923.)

California § 31169.

JurisdictionCalifornia

Code SHCStreets and Highways Code - SHC

Div. 17.DIVISION 17. TOLL FACILITIES AND RELATED MATTERS

Ch. 5.CHAPTER 5. El Dorado County Toll Tunnel Authority Act

Art. 4.ARTICLE 4. Bonds

This text of California § 31169. (31169. (Added by Stats. 1968, Ch. 923.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Streets and Highways Code - SHC Code § 31169. (2026).

Text

The bond redemption and interest payments constitute a first direct and exclusive charge and lien on all tolls and other revenues, and interest thereon, and sinking funds created therefrom received from the use and operation of the toll tunnel. Such tolls and revenues together with the interest earned thereon constitute a trust fund for the security and payment of the bonds and shall not be used or pledged for any other purpose as long as any such bonds are outstanding and unpaid.

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The bond redemption and interest payments constitute a first direct and exclusive charge and lien on all tolls and other revenues, and interest thereon, and sinking funds created therefrom received from the use and operation of the toll tunnel. Such tolls and revenues together with the interest earned thereon constitute a trust fund for the security and payment of the bonds and shall not be used or pledged for any other purpose as long as any such bonds are outstanding and unpaid.

Legislative History

Added by Stats. 1968, Ch. 923.

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California § 31169., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/SHC/31169..